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"Many thanks to the Team at Finance and Mortgage Solutions which helped me to secure my bank loan without any fuss."
This is a question that people always ask. It is similar to the egg or chicken - What came first? #buy #rent #homeowner #homeloan #firsthomebuyer#newhome
Renting might seem more appealing with soaring housing prices in Sydney and Melbourne but don't expect it to be cheaper than buying.
While investors have boosted the supply of rental accommodation and reduced the rate of growth of rents, rents are still growing in the two major cities, Housing Industry Association senior economist, Shane Garrett said.
Real Estate Institute of NSW president Malcolm Gunning said in many cases, "mortgage repayments are cheaper than rental".
"Take for example a one-bedroom in inner city Sydney which costs about $700,000. At about a 4 per cent fixed mortgage rate, you pay about $580 a week," he said. But rents in these areas are about $650 to $700.
So its up to you really. It is probably cheaper to buy a home in the long run but you will be tied down with a mortgage for a couple of decades. Talk to Madhu on 0425 341 086 to discuss your options and the deals available.
I love Westmead
Want to live only in Sydney? Here is a highly sought after deal.
#firsthome #Investment #Westmead #Parramatta #Sydney #NewHome#HomeOwner
Located at 93 Bridge Road,Westmead the new site occupies 8,664 square metres of prime R4 zoning land and benefits from a 92.795 metre frontage along Bridge Road to the western elevation and 256.6 metres of combined local internal road frontages along the Northern and Southern boundaries of the property.
The site is located in a gateway position close to the Westmead health district to the North and situated approximately 2.2kms from the Parramatta CBD. The EOI closing 16:00 PM, Thursday 5th April 2018.
The existing improvements on the site comprise 31 single storey two bedroom villas.
Contact Madhu on 0425 341 086 or at loans@financeandmortgage.com.au to learn about buying off the plan.
With the entrepreneurial spirit taking off over the last few years, more and more people are setting up shop from home. If you’re after the flexibility of a career from home this New Year but don’t know where to start, check out some of the great ideas below. #WorkFromHome #PartTimeJobs #EarnMore#OwnBusiness #NewYear #Entrepreneur
1) Get Writing
Great content is always in high demand, and as content is often not needed 9–5, five days a week, many companies prefer to hire freelancers specifically during their high-demand periods. Look for blogging or freelancer sites to find out what the contract or hourly rates are. Do you love to travel and want to share your knowledge? Start Blogging and earn your next holiday.
3) Cooking & Baking
Yes, that’s right; you can cater to specific tastes and cuisines. With more and more couples working longer hours, the demand for home cooked food is on the rise. Home cooked food is perceived as a healthier alternative to eating out. You can also try Ironing clothes or clothes alterations.
4) Mystery Shopping
There are plenty of organizations that will pay you for your opinion. Get paid in shopping coupons or have money credited into your account. Get paid for shopping or even eating out! Talk about having a cake and eating it too!
5) Rent a Room
If you have the space, a great way to make money from home is to let it be someone else’s home too—not permanently of course! Airbnb has caused a tourism revolution- with people all over the world opening their homes and spare bedrooms as affordable accommodation. If you’re going to do it though, do it properly. The best way to do this is by achieving glowing references from guests.
Read other ideas on Facebook.
1. Home loan repayments to increase
The financial markets expect the RBAto start putting up rates in 2018. This means repayments could also increase, typically by $50 for every 25 b.p. rise on a $400,000 loan. With any rate rise, borrowers are likely to turn to brokers to ensure they are getting the best deal possible. #HomeLoan #Mortgage
2. Property prices to cool
Banking regulators want to see a slowdown in house price growth, and that’s what we expect in 2018. Limits on investor and interest-only loan growth may remain for the foreseeable future, which may continue to dampen investor activity and cool property prices. We’re already seeing this intervention starting to take effect. Brokers will continue to play a critical role in explaining the ever-evolving regulatory changes affecting property investors and advising them of the best lending options available.
3. More borrowers may switch loan type
The big switch is on in the mortgage market. In the past six months, the number of interest-only loans held by the banks have dropped by around $36bn, according to APRA. The trend of switching to principal and interest loans may continue in 2018, and is an important transformation that brokers can continue to assist their clients with. #Loanswitch #refinance
4. First home buyers to make a comeback
With investors taking a step back, first home buyers may find more opportunities in 2018. They will continue to benefit from competitive interest rates, new concessions (if eligible) and ample apartment stock, although checks should always be made to ensure quality buys. With more first home buyer activity, brokers may expect to spend more time with their first-timer clients, coaching them through the journey as they get their foot in the door. #firsthomebuyer #firsthome #newhome
5. Upgraders may continue to renovate
We’ve seen a substantial increase in renovation loan applications in 2017, a trend that we’re likely to see well into 2018 as home owners choose to renovate over moving. Upgraders are avoiding exorbitant moving costs such as stamp duty. We’re seeing some more top-ups as people take advantage of lower interest rates and leverage the extra equity in their property in order to finance renovations. #Renovation #InterestRate
6. Owner occupiers to win from competitive lending rates
With limits on investor and interest-only growth, banks are competing over a smaller piece of the lending pie, and are offering some great deals for owner occupiers. Brokers may see more consumers take action, stimulated by heightened advertising activity among banks. #ownerOccupied #HomeOwner
1) Inflation: Though we are in the lowest inflation rate in the last 17 years, Australia’s unemployment rate is at a stable level and the economy is ticking along well, even though both company profits and wages are down. #Inflation #HomeOwners #HomeBuyer
2) Buyers Mix: APRA's cap on annual investor credit growth at 10% has worked well to a point as rental returns have dropped. However, the property market, remains buoyant even after several years of high price growth in cities like Sydney and Melbourne. Total housing credit has been up this year (at least for owner-occupiers) and this usually means there are plenty of property buyers out and about and wanting to borrow money. #HomeLoan #Mortgage #Sydney #Melbourne #FirstHomeBuyer#FHOG #FirstHome
3) Supply – Demand: Affordable and desirable suburbs and accommodation type are always limited causing a high demand- low supply situation. One reason high demand for property is the relatively cheap cost of home loans in recent years. #InterestRate #CheapLoan
4) Affordability – Wages- Rates: RBA’s concerns about low inflation, boosted by rate cuts are part of a broader view to ward off inflationary pressure. The housing market boom is a by-product of this.#RealEstate #PropertyMarket
5) Historical and Projected Capital Growth: Over the past 20 years, general property inflation has been low and stable, consistent with the inflation target. However the property price growth in the recent times, that it has outstripped the rate of inflation in other parts of the economy, including inflation in the cost of new dwellings.
To make the most of the current property boom and for the best interest rates for you, contact Madhu on 0425 341 086 or like us on Facebook for regular updates.
7 News recently ran an excellent segment about the growing backlash over Sydney’s rapid population growth. #Sydney #NSW #Population #migrants#HomeOwners #Rental #FirstHomeBuyers
The segment touched on some of the major issues, including over-development (e.g. the proliferation of high-rise apartments), and pins the blame squarely on the federal government’s 200,000 strong mass immigration program.
As usual, there were comments from all spectrum of so called experts. Fake demographer, Mark McCrindle, argued that growth is unstoppable: “We can’t stop the growth. Sydney is the gateway to Australia. We are growing through national migration. We are growing through natural increase”.
Really? ABS’ population data clearly shows that net overseas migration is the overwhelming driver of NSW’s (Sydney’s) population. In fact, according to the NSW Government’s own projections, Sydney’s projected population increase over the next 20-years will be driven almost entirely by net overseas migration (i.e. 1.53 million out of 1.74 million).
Sydneysiders don’t want the city turning into a crowded, super expensive, high-rise hellhole. It’s about time our politicians heard the people's voices.
Let me hear your comments on 0425 341 086 or comment on Facebook.
Renovation paint card
Purchasing a home is a big expense and responsibility. When you take possession or live in a home for a few years, you tend to want to make changes. The following are the top 5 most popular and value adding renovations you can do for your home.
#homeowner #HomeBuyer#Renovation #Construction #HomeLoan #Mortgage #DIY
Entry Door
Your front door is the first impression many visitors will have of you and your home. Getting a door that suits your taste allows you to differentiate yourself from your neighbors. A steel entry door provides the best value, security and energy efficiency or a fresh coat of bold paint will make a statement. It also makes an easy DIY renovation project.
Wooden Deck
When home buyers look at houses, a deck is one of those items that almost everyone can picture throwing a party on. It also adds a lot of value and added usable space in your home.
Pergola
A pergola offers a sleek and stylish option to not only protect your deck investment, but also you and your furniture. Having a covered portion of your deck allows you to still use your beautiful deck and backyard even in difficult weather.
Kitchen
The kitchen is often the room where every member of the family spends the most amount of time. Unfortunately, it is also one of the most expensive rooms in the home to renovate. As kitchen cabinetry trends go in and out of style within a decade it can often be the one area of your home that can look dated quickly. An updated paint job or just changing the hardware will make a big impact.
Garage Door
Finally, the garage door is often neglected. It represents about 20% of the front of your home visually if it faces the front. A new automatic electric door can also provide that luxurious comfort of simply driving into the garage during hot summer or cold winters, making its value and luxury unbeatable.
Contact Madhu on 0425 341 086 to value your home and to capitalise on your property's equity.
Container home
As a home owner one of your main considerations will be initial and ongoing maintainance costs. A new trend to consider is a container home. #HomeBuyer #FirstHome #Homeconstruction #GrannyFlat #HomeLoan #Containerhome #innovation
These homes are made from old shipping containers which are then modified to fit the size requirements of the home owners. They can be used as building blocks for homes, granny flats, shops or offices. The containers are like giant Lego blocks that can be built into anything at all.
They are cost effective, quick to build and tolerate harsh weather well (imagine transporting goods on cargo ships and being handled by cranes and trucks for years). These homes are eye catching and talking points and you sure to be the star.
So, consider this new trend while looking into your next home be it an investment or one you are planning to live in. Call Madhu on 0425 341 086 to explore the best finance option for you. Read more on our Facebook Page or on LinkedIn.
A valuation report is a professional and legal assessment of the value of your property prepared for many different purposes. #Mortgage #Valuation #homebuyer #homeloan
Here are the most common reasons:
Read more on different values for the same home and other posts on LinkedIn.
